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Author Topic: Illinois - Sports Gambling  (Read 2977 times)

Pakuni

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Re: Illinois - Sports Gambling
« Reply #75 on: September 09, 2020, 09:12:00 AM »
Draft Kings is giving away money for tomorrow's NFL opener.
Offering a moneyline of -110 on Chiefs (+101). Max bet $50, so basically a free $45.

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #76 on: September 09, 2020, 10:41:31 AM »
Draft Kings is giving away money for tomorrow's NFL opener.
Offering a moneyline of -110 on Chiefs (+101). Max bet $50, so basically a free $45.

Yeah, these have been tremendous giveaways so far. About two weeks ago, FanDuel had Clippers +100, they also had Lakers +101 last week. DraftKings had White Sox +45 two weeks ago.

One could open an account and literally just bet these giveaways and make at least a hundred or couple hundred bucks, without ever betting their own money. These promos are great as everyone is fighting for Illinois gambler dollars. I think it'll keep going as other online books set up shop in Illinois soon.
“Always In Before The Lock”
T. Jefferson

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #77 on: September 09, 2020, 01:35:55 PM »
Merrifield O 0.5 hits -245 (All lines from DK)
Cubs to score first and win +143
Carlos Santana O 0.5 hits -200
Reds no first inning run -420 (I got it at -420, it's jumped to -480)

Can't parlay the Merrifield with Santana, and can't parlay the Cubs/Reds together, I'll round robin these together.

These are the lines I got earlier for parlays:
Merrifield & Reds No 1st Run  -134
Santana & Cubs score first/win  +264
Santana & Reds No 1st Inn Run -113
Merrifeld & Cubs score first/win +224

With the wind blowing in at Wrigley tonight, and the pitching matchup, I kinda like Tie Game after 3 innings at +190 (not sure if I'll play it).
“Always In Before The Lock”
T. Jefferson

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #78 on: September 09, 2020, 07:28:10 PM »
Ouch, Yu with a brutal first.
“Always In Before The Lock”
T. Jefferson

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #79 on: September 10, 2020, 03:04:35 PM »
SF Giants team total over 3.5 (-114 on DK)
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T. Jefferson

TallTitan34

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Re: Illinois - Sports Gambling
« Reply #80 on: September 11, 2020, 09:51:25 AM »
Dish do you have any idea how the taxes work on this?  Is it based on single bet winnings or the sum of all your winnings?

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #81 on: September 11, 2020, 10:17:00 AM »
Dish do you have any idea how the taxes work on this?  Is it based on single bet winnings or the sum of all your winnings?

Sum of all winnings for the year, via a W-2G. I know the Tax Cut of 2018 now minimizes the gambling loss deduction (I think at least), unless one itemized their deductions. The online books do have a tax section. I personally am betting small amounts, but am trying to better understand the tax liability that will happen come 2021.

I say the above with how I’ve interpreted things, and there are probably smarter tax people here than I am.
“Always In Before The Lock”
T. Jefferson

jfmu

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Re: Illinois - Sports Gambling
« Reply #82 on: September 11, 2020, 11:50:12 AM »
I just downloaded the FD app (basically for the free referral money and the chiefs +2500 bet). I probably won't use much as not a sports gambler but will this app work if i'm in Wisconsin for the weekend or do you need to be physically in IL to make the bets?

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #83 on: September 13, 2020, 11:29:05 AM »
Mitch over 13.5 rush on FD at -115. To contrast, DK has him at 15.5 -112.
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T. Jefferson

reinko

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Re: Illinois - Sports Gambling
« Reply #84 on: September 14, 2020, 09:24:19 AM »
I went 10/10 yesterday in the barstool pick 'em, and if the Stillers win tonight 24-10, I cash a cool $25K

https://www.barstoolbets.com/blogs/2858938/13-stoolies-have-a-shot-at-winning-dollar25000-during-mnf-tonight


Lennys Tap

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Re: Illinois - Sports Gambling
« Reply #85 on: September 14, 2020, 10:16:52 AM »
I went 10/10 yesterday in the barstool pick 'em, and if the Stillers win tonight 24-10, I cash a cool $25K

https://www.barstoolbets.com/blogs/2858938/13-stoolies-have-a-shot-at-winning-dollar25000-during-mnf-tonight

Good luck, reinko! Sucks that it has to be the exact score, though.

TallTitan34

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Re: Illinois - Sports Gambling
« Reply #86 on: September 14, 2020, 10:18:25 AM »
Sum of all winnings for the year, via a W-2G. I know the Tax Cut of 2018 now minimizes the gambling loss deduction (I think at least), unless one itemized their deductions. The online books do have a tax section. I personally am betting small amounts, but am trying to better understand the tax liability that will happen come 2021.

I say the above with how I’ve interpreted things, and there are probably smarter tax people here than I am.

I too have been doing small wagers, however, with all these no-risk bets I've made $425 already.  I've been trying to determine how much is going to get taken out for taxes.  15% on winnings over $600?

Jockey

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Re: Illinois - Sports Gambling
« Reply #87 on: September 14, 2020, 10:59:06 AM »
I too have been doing small wagers, however, with all these no-risk bets I've made $425 already.  I've been trying to determine how much is going to get taken out for taxes.  15% on winnings over $600?

I don’t know if the law has changed, but when I used to spend time at the track, any winnings over $600 were reported to IRS. Winnings of $1000+ had taxes taken out immediately. They were not composite, but based on individual bets.

There were always a couple “cashers” around who would cash large tickets for a 10% fee so I never worried about taxes.

You don’t have that luxury though with online betting.

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #88 on: September 14, 2020, 11:04:59 AM »
I too have been doing small wagers, however, with all these no-risk bets I've made $425 already.  I've been trying to determine how much is going to get taken out for taxes.  15% on winnings over $600?

I think that's a good plan, anything over $600, set aside 15% of the winnings for taxes. The books won't take it out for you, but setting it aside is a good idea. A year from now we'll all have a better idea here on the mechanics here, but you've got a good mindset here that you're thinking about it now.
“Always In Before The Lock”
T. Jefferson

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #89 on: September 14, 2020, 11:05:39 AM »
I went 10/10 yesterday in the barstool pick 'em, and if the Stillers win tonight 24-10, I cash a cool $25K

https://www.barstoolbets.com/blogs/2858938/13-stoolies-have-a-shot-at-winning-dollar25000-during-mnf-tonight

Dude, that's awesome! Good luck!
“Always In Before The Lock”
T. Jefferson

Lennys Tap

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Re: Illinois - Sports Gambling
« Reply #90 on: September 14, 2020, 08:32:11 PM »
I went 10/10 yesterday in the barstool pick 'em, and if the Stillers win tonight 24-10, I cash a cool $25K

https://www.barstoolbets.com/blogs/2858938/13-stoolies-have-a-shot-at-winning-dollar25000-during-mnf-tonight

12 minutes left - a FG and a safety for the Steelers means 25k to my man reinko! Let’s go!!

MUBurrow

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Re: Illinois - Sports Gambling
« Reply #91 on: September 18, 2020, 09:24:39 AM »
Hey my apologies if this is a total let me google that for you question, but after a quick scan I haven't found any easy answers - is it possible to electronically sign up for the sports gambling sites in Illinois, or do you still need to physically walk into a casino to sign up?  It looks like you can sign up remotely as long as you are within state lines, but I'm having trouble finding easy answers.  I'm a nonresident but will be in the state for awhile over the weekend.

Pakuni

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Re: Illinois - Sports Gambling
« Reply #92 on: September 18, 2020, 09:25:57 AM »
Hey my apologies if this is a total let me google that for you question, but after a quick scan I haven't found any easy answers - is it possible to electronically sign up for the sports gambling sites in Illinois, or do you still need to physically walk into a casino to sign up?  It looks like you can sign up remotely as long as you are within state lines, but I'm having trouble finding easy answers.  I'm a nonresident but will be in the state for awhile over the weekend.

Rivers, Draft Kings and Fan Duel can all be done online.

DegenerateDish

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Re: Illinois - Sports Gambling
« Reply #93 on: September 18, 2020, 11:44:02 AM »
Hey my apologies if this is a total let me google that for you question, but after a quick scan I haven't found any easy answers - is it possible to electronically sign up for the sports gambling sites in Illinois, or do you still need to physically walk into a casino to sign up?  It looks like you can sign up remotely as long as you are within state lines, but I'm having trouble finding easy answers.  I'm a nonresident but will be in the state for awhile over the weekend.

You have until end of Saturday to sign up electronically. Pritzker's waiver expires Saturday (9/19). It would be incredibly stupid for the state not to extend it, as Rivers alone did $62 million for basically 3 months (March, which was next to nothing, and then June/July). 93% of the handle was from mobile.

PointsBet and William Hill are also now live mobile in Illinois. Take advantage of every sign up bonus, each site has great incentives right now.
“Always In Before The Lock”
T. Jefferson

reinko

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Re: Illinois - Sports Gambling
« Reply #94 on: October 10, 2020, 10:15:48 AM »
Got a JFB triple double last night for +500  8-) 8-) 8-)